The federal government on Tuesday announced another increase in fuel prices, raising petrol by Rs3.34 per litre and high-speed diesel (HSD) by Rs5.27 per litre for August 19.
According to a notification issued by the Petroleum Division, the revised price of petrol has been set at Rs334.54 per litre, while HSD will now cost Rs395.69 per litre.
The latest adjustment comes just a day after fuel prices were increased for August 18, when petrol rose by Rs5.77 per litre and HSD by Rs6.47.
Pakistan shifted to a daily fuel price review system on July 17 in response to volatility in international oil markets following renewed conflict in the Middle East.
Under the mechanism, domestic fuel prices are calculated using a seven-day average of international market rates, allowing changes in global prices to be reflected more frequently in local prices.
Pakistan remains particularly exposed to fluctuations in international energy markets because a significant proportion of its petroleum requirements is imported.
According to the Pakistan Economic Survey 2024-25, domestic refineries meet only part of the country’s demand, with the remainder covered through imports of crude oil and refined petroleum products.
Consequently, rising international crude prices can increase Pakistan’s import bill, put additional pressure on foreign exchange reserves and contribute to domestic inflation.